FG, States and LGA share N788.139bn in October - FAAC
Accountant general of the federation, Ahmed Idris, disclosed that statutory earnings rose from N569.281 billion to N788.139 billion.
National Economic Council (NEC) meeting of October 25, 2016.
Recommended articles
![The Executive Secretary of NUC, Prof. Abubakar Rasheed [nuc]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "The Executive Secretary of NUC, Prof. Abubakar Rasheed [nuc]")
Accountant general of the federation, Ahmed Idris, disclosed that statutory earnings rose from N569.281 billion to N788.139 billion.
Speaking to Journalist in Kaduna at the end of FAAC meeting, Idris said they was rise in gross statutory revenue for the month of October by N112.880 compared to the previous month.
He said, “However, the average unit price dropped further from $75.69 to $73.92. The shut-in and shut down of pipelines at various terminals persisted due to leaks and maintenance.
ADVERTISEMENT
“Revenues from oil and gas royalties, petroleum profit tax and value added tax increased significantly while companies Income Tax, Import and Excise duties increased only marginally.”
He also disclosed that the committee's next meeting will be held in Abuja in Mid December.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Clark wants Christian southerner to emerge as Senate President
We don't envy you... and other things traditional rulers told Tinubu
Rhodes-Vivour criticises Obasa over Lagos property rights
Makinde flags off ₦9.6bn road project in Ibadan
Call El-Rufai to order to prevent religious war, Catholic priests to Tinubu, Sani
Abia doctors suspend 6 months strike
Macron to meet victims’ families after knife attack on children
NUC presents provisional licenses to 37 new private universities
Ex-minister reveals what ended Virgin Nigeria, criticises Nigeria Air
Pulse Sports
'There are people in Barcelona who don't want me to return' — Messi
EXCLUSIVE: ‘It is only Paul Onuachu’ — Frank Onyeka reveals his Super Eagles friend
Explained: How much will Lionel Messi earn at Inter Miami in USA?
Ese Brume soars to her best mark this season at ORLEN's Cup
Romelu Lukaku gives advice on how to stop racism in football
Victor Osimhen’s unprecedented Capocannoniere
ADVERTISEMENT
